Sign Up for Your Company's Wellness Program — Or Else

Many workplaces will make you pay up if you opt out.

Did you decide to skip your office's weight-loss challenge this year? You might see the consequences on your health insurance bills. Reuters reports that more and more companies are giving workers incentives to participate in wellness programs — and penalizing workers who pass.

Thanks to Obamacare, companies can now hand out more incentives to workers who enroll in wellness programs and see results. If you lose weight, lower your cholesterol, or even quit smoking, some companies will lower your health insurance deductibles, or some will just give you cash.

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But there's a downside to all this workplace generosity. A survey by consultant Towers Watson found two-thirds of big companies are using incentives to get workers to sign up, and almost a fourth of those firms are handing out penalties, too. These include paying higher premiums on your health insurance, and having to pay more out of pocket for medical costs.

Why is there such a big corporate push for wellness programs? It may feel altruistic, but your employer doesn't just want you healthy out of the goodness of their heart — healthier workers need less medical care, thus lowering overall healthcare costs for the company's insurance plan.

For now, the jury's still out on the future of these programs. Some critics complain that they don't seem to be very "voluntary," especially for workers who are wary of giving up personal information about their health. But if you see everyone in your office doing crunches under their desks, you might want to join in.